Innovative, high-growth companies in Quebec's electric and intelligent transportation (EIT) sector are taking advantage of the $50 million in financing dedicated to the EIT ecosystem set up by Finalta Capital, one of Canada's largest specialized funds for non-dilutive financing of government tax credits and subsidies, announced in March 2023 as part of Impulsion, the International EIT Summit organized by Propulsion Québec.
An enhanced financing model tailored to the TEI sector
Finalta Capital's $50 million funding package meets several key criteria for TEI players:
Amount Finalta provides financing ranging from $500,000 to $15 million, depending on the size of the innovative project;
Funds available upstream : loan disbursements are made before project expenses are incurred;
Speed First payment within 15 working days of submission of application.
This specialized financing is aimed at both start-ups and large corporations. With over 10 years of financing experience and more than $475 million already lent, Finalta Capital applies its unique technological and financial expertise to understand the financing needs and challenges of innovative companies in the TEI ecosystem.
Meeting the needs of the TEI ecosystem
The pressure on players in the EIT ecosystem is great, and we need to act fast to reduce greenhouse gas emissions from ground transportation and contribute to a greener Quebec economy. Since the release of its study Diagnostic de la chaîne de financement dans le secteur des transports électriques et intelligents au Québec (December 2021), the TEI industry cluster has been calling for the creation of a dedicated fund. Finalta Capital's initiative is a targeted response to the need to fill the gap in the financing chain, and represents an indispensable solution for accelerating the growth of the EIT ecosystem.
"With this $50 million envelope dedicated to the electric and intelligent transport sector, Finalta Capital is unravelling the financing chain. I applaud Finalta Capital's commitment to our ecosystem, and their willingness to provide an enhanced financing solution tailored to the EIT sector, so that Quebec can maintain its lead in a competitive global environment. What's more, the non-dilutive nature of this financing will enable organizations and their founders to reap a greater share of the fruits of their labor."
About Finalta Capital
Finalta Capital, one of Canada's largest specialized funds for non-dilutive financing of government tax credits and grants, supports fast-growing innovative companies by providing enhanced, non-dilutive cash flow on the basis of tax credits and grants receivable even before projects are underway and eligible expenses paid. Finalta Capital provides financing ranging from $500,000 to $15 million, depending on the size of the innovative project. These distinctive financing terms alleviate the liquidity pressure of intense innovation and productivity initiatives, and provide a permanent source of liquidity to reduce founder dilution.
For further information:
Patrick Hamaoui - Vice-President, Corporate Finance - Finalta Capitalphamaoui@finaltacapital.com | 514 835-7997
